The primary question that most people are interested in at this moment in time is “What are the costs associated with Solar Panels?”
The first thing to determine is which type of panel you are most suitable for you. As a general rule of thumb we would advise that solar thermal panels (for heating domestic water) are the lowest investment cost starting from around £3000 (inc VAT, after £400 grant). PhotoVoltaic panels can offer a much higher rate of return but requires a larger initial investment.
PV solar panels historically were less cost effective than solar thermal panels but due to the massive government incentives that came into law at the beginning of April this year (2010) PV panels are very much the panels of choice for the discerning investor.
As an example a 4kW PV system can cost around £18,500 (inc VAT and scaffolding), this will generate around £1800 per year in revenue and savings, this gives a return on investment of almost 10%. It is also worth remembering that this revenue is tax free which, for a high rate tax payer, is the equivalent to a 16% bank account.

This entry was posted on Friday, May 7th, 2010 at 1:36 pm and is filed under Solar PV Panels, Solar Water Heating. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.